The UAE judiciary is accepting the future, specifically when it comes to cryptocurrencies. In a groundbreaking choice, the Dubai Court of First Instance has ruled that cryptocurrency can be a legitimate kind of income payment under work agreements. This is a huge offer and marks a considerable shift in the United Arab Emirates’ (UAE) legal method to digital currencies.
The Case History
In 2023, (Judgment No. 6947 of 2023) an work conflict case came to the court. This case included an staffmember with a work agreement to get payment in fiat and 5350 EcoWatt tokens month-to-month. However, the company did not pay the crypto part for over 6 months. The court acknowledged crypto being in the agreement, nevertheless did not force the company to pay since the worker stoppedworking to supply a clear technique to determine the crypto in terms of fiat.
New Judgement Embracing Crypto
A comparable case (number 1739 of 2024) appeared in court in2024 This time the Dubai court showed a progressive position towards crypto in earnings. The court ruled in favor of the staffmember and purchased the payment to be made in EcoWatt tokens rather of its fiat worth. It mentioned that according to the Article 912 of Civil Transaction Law, the incomes are a right of the employees versus their